Congressman Pete King

Representing the 2nd District of New York

Budget and Federal Spending

We are facing a debt crisis of unprecedented magnitude.  If we do not act soon, we will be the first generation to leave our children with a lower standard of living.  I will not stand by and let that happen.  

The first step towards strengthening our economy is to put our own fiscal house in order.  Since fiscal year 2010, Congress has achieved discretionary savings of $165 billion.  The FY 2014 budget (H.R. 3547), which passed with my strong support, cuts $21 billion from last year’s discretionary spending level – marking the first time since the Korean War that spending has been cut four years in a row.  We have made important strides in reversing the trend of wasteful government spending, but more needs to be done.  

In December 2013, Congress reached an important bipartisan agreement (H.J. Res. 59) to reduce the negative impact of sequestration on the military and federal agencies without raising taxes. This agreement bodes well for future Congressional negotiations to put our budget on a path to balance.  I will do all I can to restore fiscal responsibility to government.